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Thinking of a student loan

  • 22-11-2005 12:48am
    #1
    Sandals
    Closed Accounts Posts: 1,299 ✭✭✭


    I am thinking of taing out a student loan to purchase some music equipment the vlaue of which would be roughly two and a half thousand. I got a quote from AIB with 7.8 percent apr, or maybee 8.7 percent, I would like to pay as little as possible back now, do you have any suggestions as to where the best rates/options are available, thanks for your help.


Comments

  • #2
    chump
    Closed Accounts Posts: 3,807 ✭✭✭chump


    I got an interest free loan from BOI last year, travel loan, once paid off within 6-9months, something like that... they have leaflets about it.

    I was a customer of theirs for years tho...
    I paid off that loan and took out another one there for quite a bit more that I have to start paying back this summer, apr 8.8% on this one...


  • #3
    Sandals
    Closed Accounts Posts: 1,299 ✭✭✭Sandals


    ok thanks, any other ideas?


  • #4
    FreeAnd..
    Closed Accounts Posts: 1,150 ✭✭✭FreeAnd..


    I got a loan from AIB when I was in my final year. I got 4,000 but did not start making repayments until I started work the following year. I'm not too sure what the rate was or how much I paid back but I didnt really care as I was not paying it back straight away. I got a term of a couple of years but managed to clear it within the first year so the interest didnt work out as too much. It should be easy enough to get a loan where the repayments dont start until you want. As for rates check all the banks and see how long they will give you before repayments must start..


  • #5
    Sparky
    Registered Users, Registered Users 2 Posts: 22,231 ✭✭✭✭Sparky


    i got a loan there a while back for €7000 over 4 years and my repayments are 161 quid a month.
    I have been a customer of BOI since 98 and i was already pre approved for €11,000 so i got it that evening.
    my apr for it is 8.5%


  • #6
    wheres me jumpa
    Registered Users, Registered Users 2 Posts: 4,479 ✭✭✭wheres me jumpa


    Sparky-s wrote:
    i got a loan there a while back for €7000 over 4 years and my repayments are 161 quid a month.
    I have been a customer of BOI since 98 and i was already pre approved for €11,000 so i got it that evening.
    my apr for it is 8.5%

    was this as a student? may i ask how much you had in your account at the time? i have very little in my account and im wondering how much this would affect how much i can take out. i had a loan for 2200eur from aib last year which i repayed on time. i also get paid every week from a part time job so i have a good history but little in the bank from week to week.


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